PolyPid (NASDAQ:PYPD) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of PolyPid (NASDAQ:PYPD) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

PYPD has been the topic of several other reports. Craig Hallum set a $12.00 price target on PolyPid in a research report on Wednesday, July 22nd. Oppenheimer began coverage on shares of PolyPid in a research report on Tuesday, October 27th. They issued an “outperform” rating and a $10.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of PolyPid in a research report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PolyPid in a research note on Friday, September 18th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

PolyPid Trading Down 2.2%

NASDAQ:PYPD traded down $0.14 during mid-day trading on Friday, hitting $6.26. The company had a trading volume of 193,133 shares, compared to its average volume of 168,040. The business has a fifty day simple moving average of $5.37 and a 200-day simple moving average of $4.80. The firm has a market capitalization of $119.44 million, a price-to-earnings ratio of -4.64 and a beta of 1.43. PolyPid has a 1 year low of $3.50 and a 1 year high of $7.15.

PolyPid (NASDAQ:PYPD) last issued its earnings results on Wednesday, November 11th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.91 by ($1.15). The firm had revenue of $30.00 million during the quarter, compared to the consensus estimate of $30.00 million. As a group, research analysts anticipate that PolyPid will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On PolyPid

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of PolyPid by 18.2% during the third quarter. HighTower Advisors LLC now owns 13,000 shares of the company’s stock worth $69,000 after acquiring an additional 2,000 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of PolyPid by 32.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 20,085 shares of the company’s stock worth $106,000 after acquiring an additional 4,955 shares in the last quarter. AXQ Capital LP acquired a new position in shares of PolyPid in the second quarter worth about $87,000. Renaissance Technologies LLC acquired a new position in shares of PolyPid in the first quarter worth about $81,000. Finally, Connective Capital Management LLC purchased a new position in PolyPid in the second quarter valued at about $343,000. 26.47% of the stock is owned by hedge funds and other institutional investors.

About PolyPid

PolyPid Ltd. is an Israeli clinical-stage biopharmaceutical company developing products designed to deliver medicines locally and over an extended period. Its proprietary PLEX (Polymer-Lipid Encapsulation matriX) technology is intended to control the release of drugs at the site where they are administered. The company’s lead product candidate, D-PLEX100, uses the antibiotic doxycycline and is designed to be applied during surgery to provide sustained local drug delivery for the prevention of surgical-site infections.